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What Is a Certificate of Insurance (COI) for Contractors — and When Do You Need One?

Levelset

To help your business remain viable, contractor’s insurance should be a crucial part of your financial strategy. Insurance also puts other parties’ minds at ease when they want to hire you as a specialty contractor. If you’re bidding on contract work, you will likely need a COI per terms of a legal agreement.

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Does GC Insurance Cover Subcontractors?

Levelset

General contractors know these risks when they take the role. But what if the general contractor isn’t at fault, and a subcontractor is to blame? Does a general contractor’s insurance cover their subcontractors’ accidents or mistakes? The car owner can’t go after a different contractor’s insurer for the damage.

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What is Equipment Floater Insurance for Contractors?

Levelset

The life of a contractor is a hectic one with most of the time spent on a jobsite — and a lot of places in between. As a contractor, you likely have a considerable amount of money sunk into tools of the trade. So, the list of contractors requiring this coverage is quite extensive. The answer would almost definitely be “no.”.

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Additional Insured Endorsements & How They Work in Construction

Levelset

In short, an additional insured is typically another business entity or person who can be added to your business policy, securing the same liability protection that you do. An additional insured agreement allows a policyholder to extend their business insurance coverage to a specific third party. What is an additional insured?

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Should Contractors Be Allowed to Insure Themselves Against Their Own Faulty Work?

Construction Dive

By Bruce Jervis Commercial general liability (CGL) insurance policies have been the source of much controversy in the construction industry. The policies insure against personal injury or property damage caused by an occurrence during the contractor’s performance of the work. But do the policies cover the work itself?

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Insurance for Electricians: What It Covers & Why You May Need It

Levelset

This type of damage may leave electrical contractors unable to foot the bill. Why can an electrical contractor use insurance? You pay pennies on the dollar for coverage that could range into the millions for general liability (GL) insurance, for example. Which types of policies are available to electrical contractors?

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Unlimited liability for designers and contractors

Construction Lawyer

He is a partner in the law firm of Sabo & Zahn, concentrating in construction law and representing owners, contractors, architects, developers, engineers and other parties in the construction process. Sabo & Zahn LLC is an Illinois Limited Liability Company. Unlimited liability for designers and contractors.